Top 10 Indian fintech startups

India is home not only to one of the oldest and richest cultures in the world, but also to the best fintech solutions

Indian fintech

Top 10 Indian fintech startups. Source:

Hundreds of Angel and VC investors constantly track the development of the Indian fintech sector. For a while now, it’s been the fastest growing industry and a nurturing hub for creative startups. With the largest customer base and a range of financial problems to tackle, India is the home of many great fintech solutions.

10 best Indian fintech startups

1. Paytm

Paytm or “Pay Through Mobile” is the key Indian initiative to demonetize the emerging national economy. It’s the largest Indian digital payment system with 300 million registered users and 120 million monthly active users of its in-app messaging service. The provided services vary greatly from mobile recharge to paying traffic fines, or buying entertainment tickets. Frankly speaking, the platform has become deeply embedded in the national financial ecosphere.

In January 2017, the company received approval from RBI to launch Paytm Payments Bank. Now it offers the Paytm First Card – a Visa Premium international credit card created in partnership with Citibank. Partnered with Alibaba’s cloud computing arm, they have expanded its QR code-based payment network globally. However, this system is also very beneficial to local sellers. Currently, the company is luring millions of smaller retailers known as kirana stores to a partnership with an advantageous cashback offer plan.

Indian fintech

Paytm or “Pay Through Mobile” is the key Indian initiative to demonetize the emerging national economy. Source:

2. Policybazaar

This InsurTech company has created a convenient and transparent platform for insurance sales where all the policies on the market can be compared. They distinguish such important attributes as the top five features of a product, best sellers and conversion rates. The policies can be compared based on price, quality and key benefits. Thanks to their simple solutions, the industry revolutionaries have 10 million clients to whom they sell 400,000 insurance policies monthly (including 25% of all national life cover policies and 50% of all term life policies).

3. Lendingkart

This startup provides great loan opportunities for small businesses across the country. The team has developed a web platform that enables clients to apply for collateral-free working capital loans. The company uses the current year’s cash flow, credit history, and customer experiences to evaluate the business. It gives chances to more enterprises than traditional credit unions do, focusing on the current rate of growth rather than past financial records. The application process takes place online and requires minimal documentation, the loan decisions are quick, and the rates are very competitive.

Indian fintech

This startup provides great loan opportunities for small businesses across the country. Source:

4. PaySense

That is a perfectly customized consumer lending platform. Their personalized EMI line of credit can be used to make instant purchases, both online and offline, through affordable monthly plans. PaySense was recognized as one of the Top 100 Fintech innovators in the world by a KPMG and H2 Ventures report. It is one of the best and speediest Indian personal loan apps which also offers approvals to flexible payrolls within two working hours.

5. Razorpay

The startup is a payment company that provides free e-commerce payment gateway solutions. It allows online businesses to accept, process and disburse digital payments through several payment modes like debit cards, credit cards, net banking, UPI and prepaid digital wallets. Their alternative payment links allow sending invoices to customers via messengers even without a ready-made corporate website.

6. Finwego

The company provides unique education loans to teachers, parents, and schools. It demonstrates an innovative approach to personal and organizational loans by leveraging both online and offline delivery models. Finwego started operations in December 2018 and has already impacted over 100,000 K-12 students across India. It has recently raised $1.7 million in its seed round from SAIF Partners in order to expand its geographies, product range and team. The startup is also planning to apply for an NBFC license.

Indian fintech

It demonstrates an innovative approach to personal and organizational loans. Source:

7. BigBasket

It was one of the first and most funded unicorn startups in the online grocery segment. It delivers groceries and perishables across the country within convenient time slots chosen by customers. BigBasket today offers the largest catalog and fastest delivery among any of its rivals due to the well-developed supply chain. It offers innovative subscription services to supply milk and other daily eatables and plans to install about 3,000 vending machines that offer daily eatable items, such as vegetables, snacks and cold drinks in residential apartments and offices in the nearest future.

8. ClearTax

ClearTax was the first company that American accelerator Y-Combinator had backed in India. It helps individuals and businesses file taxes and invest in mutual funds. The startup has a cloud platform for filing goods and services tax used by around 2.5 million customers. The company claims to be the number 1 aggregator of financial experts and accountants with 20,000 experts on their platform. Their product has quickly become the largest GST solution in India with 80,000+ businesses adopting it and 8% of India’s GST returns being filed through it. The newest addition to their services – Mutual Fund Investing platform also allows to invest and do tax savings besides tax filing.

Indian fintech

Mutual Fund Investing platform also allows to invest and do tax savings besides tax filing. Source:

9. CarDekho

This vehicle-selling platform gives users detailed information about vehicles as well as on-the-road quotations. It connects them to automakers and dealers with the best market offers. It also lists used cars so that potential buyers can securely contact the owners. The company cooperates with financial institutions to provide financing and insurance options. Its popularity attracts monthly traffic of 73 million users.

10. BharatPe

The startup presents a QR code-based payment app for offline retailers and businesses. It allows merchants to accept UPI payments for free. No set-up or transaction charges and zero-commission-fees make it stand out from the crowd of similar solutions. Through the app, merchants can sign up instantly and start receiving their funds to their bank account immediately.

SEE ALSO: What is Paytm and how to use it